Title: Navigating Auto Accident Payments: Should You Pay Out of Pocket or Use Insurance?
Dealing with a minor vehicular accident can be stressful, especially when considering the financial and insurance implications. Recently, I was involved in a Fender bender where I was at fault, and I’ve been exploring options to handle the damages without involving my insurance provider.
The other party has opted to file a claim through their insurance, and I received a call from their insurance company. Before the call, I inquired with my agent about the possibility of settling the matter directly with the other party—essentially paying out of pocket. The agent wasn’t certain and promised to check, but he did request that I provide a detailed account of the incident, including the police report and my insurance information.
My primary concern is maintaining my insurance coverage without risking policy cancellation or increased premiums. Over the past two years, I’ve already had two at-fault incidents: one minor with negligible damage, and another that resulted in approximately $1,700 in repairs. Given this history, I am hesitant to involve my insurer unless absolutely necessary.
At this point, I am contemplating whether to submit my incident report and insurance details now or to wait until I receive confirmation that paying out of pocket is an acceptable option. The repairs needed are minor—mainly holes in the plastic bumper that might require welding or, at worst, full bumper replacement. The vehicle involved: a company van from a fleet of around 30.
Advice? Should I proceed with providing my information and documentation, or wait for confirmation before involving my insurance? What’s the best approach to avoid potential policy complications while resolving this matter efficiently?
Note: This vehicle is part of a fleet, so the insurance process might differ slightly from personal vehicles.
